Best Ideas 2019 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
ARGROTH FINANCING STOKVEL
Explain your idea in details:
The Idea's mission or objectives is to create a financial market where small- scale farms can be able to obtain access to funding to grow their business and be able to operate in larger industries and to address the following problems: * farmers finding it difficult to generating finance to further their operations. * African farmers being limited to certain knowledge. *The lack of access to capital resources for farmers to able to be competitive. * The challenge faced by normal working individual who want to enter the farming market but do not have time, land and skills to do so. Argrowth is an online Stokvel where farmers can join, be able to post their business and depending on the type of product they produce and amount they are willing to save in the initiative (Stokvel) the business is than classified into different groups. In addition,private citizens that want be part of the stokvel will be able to view the companies profile and decide which company they would want to be in the Stokvel with. These individuals will be given a opportunity to choose if they want to receive cash payment payouts or products produced by that particular farm when it's their turn to benefit from the stokvel. This initiative will also host online events whereby farmers would be given opportunities present their product to other farmers and retailers. The farmers who partake in this initiative will only have the option to use the money they obtain to purchase equipment to grow their business operations and every time the business get the stockvel payout other business in the initiative must evaluate, assist that business in that month in terms of industrial knowledge and skills.
Expected impact of your idea on sustainable development
The initiative is aim at largely small-scale farmers and general working citizen who wants to save for short term purpose or want to enter the agriculture market. Initiative targeted goals; * establishment of the business website and portal *establishment an of agreement with a partnering bank * Having more than 50 members join in the first year *creating a series of online events for farmers to share ideas. The key metrics *online questionnaire will be created to check number of farming business who are attracted by the initiative and whether its members are being satisfied. * An analysis of anticipate members to join vs the actual members will be done on a monthly basis. *continues monitoring of website effectiveness, efficiency and accessibility. * each farming business will determine the required equipment or cash flow needed to further their operation, at the end of each cycle the business would than continuously check if these needs are satisfied. * the evaluation of farmers or individuals that remain or exit the Stokvel after each cycle will be done *semi-annual cycle report of the progress of production after equipment is obtained of farmers that are associated to this program or venture will be conducted to check if the mission of the program is being attained.
Plans for implementation and sustainability
This initiative will be implemented in terms of three phases namely: Phase 1 This phase will be where a market survey will be conducted through a questionnaire to determine farmers desired interest. Interested participants will also be required to fill a letter of commitment to secure their participation in the initiative. These letters of commitment will also assist in the quest for funding activities to kick start the program. The program will also host a series of business events to obtain startup capital. Phase 2 A website would also be created, interest farming business can be able to commence with submitting their business profiles and a partnering bank will be appointed. Then the first online event would be hosted for the public and farmers in the Stokvel to share idea's and for farmer to market their products to participating individuals,so they can understand and able to choose the farming business they want join in the stokvel. In addition, the participants would then be given their membership details on how this initiate will work and any other required information Phase 3 This is the Stokvel commencement phase where members are allocated into groups where they can start to partake. Each group will be allocated 4 farming business and the remainder will be 8 private individual. This is to ensure that the business obtain the much need cash flow to purchase farming equipment. During this phase at the end of each cycle the Stokvel will be reviewed to identify areas of improvement and to ensure sustainability of both the Stokvel and farming business progress.
Emmanuel Khumalo is a 25 year old boy from white city Soweto who is passionate about football and business.he has just completed his accountancy studies at the university of Johannesburg and his currently interning in engineering and project industry and has spent the last two years trying to study the event field. Emmanuel khumalo has founded a small comedy event project call night of laughter in Soweto aimed at helping young artist to obtain opportunities to showcase their talents and be able to support their families. he is also helping to coaching young soccer boys ,girls in rockville Soweto and currently planning to create a soccer tournament to rise funds to create a feeding scheme for these young players